Patton Albertson Miller Group LLC Purchases New Shares in Northern Trust Corporation $NTRS

Patton Albertson Miller Group LLC acquired a new position in Northern Trust Corporation (NASDAQ:NTRS) during the third quarter, HoldingsChannel reports. The institutional investor acquired 4,021 shares of the asset manager’s stock, valued at approximately $681,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Northern Trust in the second quarter valued at $2,523,781,000. Primecap Management Co. CA bought a new stake in Northern Trust in the second quarter worth $1,060,553,000. Dimensional Fund Advisors LP raised its stake in Northern Trust by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock valued at $342,744,000 after purchasing an additional 36,322 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Northern Trust during the second quarter valued at $361,079,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in Northern Trust by 2.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,500,961 shares of the asset manager’s stock valued at $254,203,000 after purchasing an additional 29,490 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Trading Up 1.0%

NTRS stock opened at $169.55 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.61 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a twelve month low of $121.53 and a twelve month high of $195.78. The stock has a market capitalization of $31.02 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 0.93 and a beta of 1.24. The firm’s fifty day simple moving average is $177.27 and its two-hundred day simple moving average is $164.63.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.53. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, analysts anticipate that Northern Trust Corporation will post 11.95 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 4th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, December 4th. Northern Trust’s dividend payout ratio (DPR) is currently 27.59%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NTRS shares. Royal Bank Of Canada downgraded shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price on the stock. in a report on Wednesday, July 22nd. Citigroup reduced their price objective on Northern Trust from $186.00 to $170.00 and set a “neutral” rating on the stock in a research note on Friday. TD Cowen assumed coverage on Northern Trust in a research note on Thursday, October 8th. They set a “hold” rating and a $175.00 price objective on the stock. Bank of America upped their price objective on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Evercore set a $183.00 price objective on Northern Trust in a research note on Thursday, October 1st. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $183.47.

Insiders Place Their Bets

In related news, Director Robert Moritz, Jr. bought 255 shares of the stock in a transaction dated Wednesday, July 29th. The stock was purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the purchase, the director owned 8,400 shares of the company’s stock, valued at $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas South sold 1,800 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the sale, the executive vice president directly owned 92,917 shares of the company’s stock, valued at $17,180,353.30. This represents a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is owned by insiders.

Northern Trust Profile

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.